Undisclosed buyer acquires land for $44.5 million
Riviera Resources (stock ticker: RVRA) signed an agreement Thursday to sell its interests located in Michigan for $44.5 million, netting approximately $41 million of proceeds in the process. The transaction is expected to close in Q2 of 2019, subject to due diligence and satisfaction of closing conditions.

The properties being sold contain approximately 1,400 net wells, with proved resources of 193 BCFE and PV-10 of approximately $38 million. The sale will not involve any of Riviera’s properties in Illinois.

Source: Riviera Resources

According to its 2019 Q1 filing, Riviera possesses $237.6 million in current assets, a...